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TA Enterprise fiscal Q1 profit climbs 79.8% YOY

TA Enterprise Berhad said its normalized net income for the fiscal first quarter ended April 30 was 2 Malaysian sen per share, a gain of 79.9% from 1 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.7 million ringgits, a gain of 79.8% from 23.7 million ringgits in the year-earlier period.

The normalized profit margin increased to 16.7% from 11.5% in the year-earlier period.

Total revenue grew 23.7% year over year to 256.1 million ringgits from 207.1 million ringgits, and total operating expenses grew 10.5% from the prior-year period to 166.4 million ringgits from 150.6 million ringgits.

Reported net income grew 70.2% year over year to 57.7 million ringgits, or 3 sen per share, from 33.9 million ringgits, or 2 sen per share.

As of June 30, US$1 was equivalent to 3.21 ringgits.